WALTHAM, Mass.--(BUSINESS WIRE)--Feb 28, 2012-- Avedro, Inc. announced today that the Company has entered into an exclusive Option Agreement with the Cleveland Clinic for the right to negotiate a license for 3 specific Intellectual Property (IP) assets to enhance the Company's existing portfolio of cross-linking therapies and diagnostics. If Avedro licenses this technology it intends to utilize it in the development of the company's products.
The optioned IP portfolio covers three potential major advancements in the field of corneal cross-linking: in vivo measurement of corneal strength, Finite Element Analysis modeling for predicting outcomes, and the use of cross-linking as a therapeutic treatment in glaucoma.
"These enhanced technologies combined with our current products will bring Avedro's cross-linking product portfolio generations ahead of others," said David Muller, PhD, CEO of Avedro. "We are looking forward to bringing these to market in the near future." One of the co-inventors, William J. Dupps, Jr., MD, PhD, leads an interdisciplinary research team in the Ocular Biomechanics and Imaging Laboratory at the Cole Eye Institute focused on the biomechanics of keratoconus and methods for improving refractive surgery outcomes with patient-specific computational modeling. Dr. Dupps is an accomplished physician scientist and will remain closely aligned with the development of these technologies.
About Avedro, Inc.
Avedro is a privately held medical device and pharmaceutical company advancing the science and technology of corneal cross-linking. Avedro recently completed its US-based, multi-centered, Phase III studies of corneal cross-linking for the treatment of progressive keratoconus and corneal ectasia following refractive surgery. Outside the United States, Avedro has commercialized both VibeX(TM) riboflavin and its KXL(TM) System for performing Lasik Xtra(TM) and accelerated cross-linking. Additionally, Avedro is developing the science of Thermo-biomechanics for therapeutic medical applications. The Keraflex(R) refractive correction procedure is the first technology developed from the Thermo-biomechanics platform and is a non-invasive, incision-less ophthalmic procedure for flattening the cornea without the removal of tissue. Keraflex offers the unique ability to induce refractive change without weakening the cornea's biomechanical integrity, as happens with Lasik and other refractive correction procedures. Keraflex is commercially available outside of the United States.
CONTACT: Avedro, Inc.
Kristen Gleason, 781-768-3400 firstname.lastname@example.org KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY MEDICAL DEVICES OPTICAL PHARMACEUTICAL SOURCE: Avedro, Inc.
Copyright Business Wire 2012 PUB: 02/28/2012 02:00 PM/DISC: 02/28/2012 02:00 PM http://www.businesswire.com/news/home/20120228006758/